All Forum Posts by: Tiffany Bishop

We house hacked with 3-5 kids (when we started we had 3, when we moved we had 5). It wasn’t bad for us because we still had over 2000 sq ft for our family. The second unit was a 2 bd 1100 sq ft apt below us that we rented out. Whenever renting it out we made sure to let them know we had young children that would be living above them. Most renters didn’t seem to have a problem with that. If I could go back I would do it again.

@Becca Summers thanks for the comments.  I'm looking at new construction multi.  Your concern is another one of mine.  I have a 2 bd apt in Lindon that I rent within hours of posting it online and have for a few years.  I would love to have more properties that do the same thing.  But I am afraid that Vineyard might become over saturated with them and be harder to rent.  

@Josh Knox good point!  

@Tanner Farrer thanks for the reply.  Do you mind if I ask you what you are buying?  One of my hesitations to buy an investment there is that I would not want to live there personally.  Do you think that should matter?

Any other Utah County investors care to give input?  

I am a newbie investor.  I am curious what more seasoned investors think of investing in Vineyard, Utah.  Should I be worried about potential bad smells, mosquitoes, the possibility of the lake ever rising again (not sure if that is really something to be worried about though)?  Or is it the hot place to invest right now and I should be looking at it more seriously?

Thanks for the response @Joel Owens.  My questions concern capital gains taxes and real estate.  I reached out to Steven and will hopefully hear from him soon.

I have a couple of questions I need answered about taxes and the effect selling a property I have in Utah will have on my taxes.  Can anybody recommend someone?  Thanks.

Thank you everyone for the advice and input.  Viewing it as a C or D class neighborhood definitely changes how I look at the numbers.  

Some additional information...the 4plex is on 26th street near Juneau Ave.  Property taxes were around $3200 last year.  I don't have the information about utilities so I will need to find that out.  The seller is a local realtor/investor that someone else here on bigger pockets recommended to me.  

Overall, I am thinking this may be more than I want to attempt on my first out of state investment.  If anyone knows of some good deals in better neighborhoods, feel free to PM me.

Looking at a brick 4plex in Milwaukee.  It would be my first out of state investment and I am wondering if it is too much to take on (because of possibly being in a higher risk area).

It is in zip code 53205 right on the border by 53208 and 53233 (just south of James Groppi High School).  The seller described the neighborhood as B class with a large Asian population.  The duplex itself is very old (100 years old I think).  Rehab was done in 2013.

Below are the details:

Purchase price: $125k

Monthly rents: $2100 (4 2bds/1 ba all renting at $525)

Haven't decided yet if we would pay all cash or use a private lender but if we use the lender our PITI would be about $950. Using cash would leave $350 for Taxes and Insurance.

Maintenance (10%): $210

Vacancy (10%): $210

Management (10%): $210

So if we leverage our money, we are looking at about $520 CF/month.

All cash we are looking at $1120/month.

Do those numbers look right?  My biggest question is how locals view that area.  

Thanks in advance for any input!

Welcome.  My story is similar to yours.  Bought a house for our family that had a legal basement apartment in Lindon/Orem.  We recently bought a second and bigger home for our family (sadly we are not house hacking anymore) but still have the first and now are renting out the top and the bottom.  We are hoping to make the move soon to start acquiring more buy and holds.

Welcome to BP and best of luck to you!

Our first home purchase had a legal basement apartment. It was like house hacking but better than just half of a duplex. We still had 2400 sq ft on the main floor and upstairs for our family (which includes several kids).

Our neighbors built an apartment above their garage. The apartment is very nice and even though it is small they don't have trouble renting it out because it is so nice. But....it gets so hot in the summer! They have had a problem keeping renters and most of them say it was the heat that drove them away.  So while I don't know costs you will want to pay special attention to insulation to control the temperature (especially in Florida).